LYNX ACQUIRES “PIC SERVIZI PER L’INFORMATICA”
Third acquisition for Lynx Group since FSI investment
Milan, June 29, 2022 – Lynx, an Italian system integrator backed by private equity fund FSI, acquires 60 percent of PIC Servizi per l’Informatica (“PIC”), an Italian company operating in IT consulting and services with offices in Milan, Turin, Rome and Arezzo. The company is active in software development and system integration, with advanced technological expertise on best-in-class market platforms (CRM – Salesforce, Business Intelligence – QlikView/Qliksense). PIC shareholders will retain a 40 percent interest, while reinvesting part of the proceeds in Lynx. They will maintain managerial roles and presence on the company’s board of directors, ensuring management continuity.
For Lynx, this is the third acquisition in the last seven months after Insurance On Line, completed in December 2021, and Double Consulting, completed in April 2022. It signals a quick start of its development plan, in line with the objectives outlined by FSI’s investment in November 2021. With the PIC acquisition, the Group expands its customer portfolio mainly in the utilities sector and strengthens its technology expertise in the banking sector.
The acquisition will allow Lynx to exceed €100 million in revenues in 2022, with more than 1,100 people employed.
“2022 is proving to be a year of significant growth,” explains Matteo Moretti, CEO of Lynx, “the Group is demonstrating that it is succeeding in its expansion plan through the aggregation of other Italian companies operating in the IT sector, with the aim of becoming a leading digital operator in Italy, also for the benefit of its customers. In this context, PIC represents a fundamental investment, fostering growth both in terms of commercial portfolio and in terms of skills addition, with a business model that can be rapidly integrated within the Group”.
Marco Pisa and Claudio Bonissone, founders of PIC commented, “After the important results achieved in more than thirty years of activity, the company and management objectives remain unchanged and we believe that Lynx represents the perfect partner to support PIC in a new phase of growth, within an increasingly competitive market. Our commitment as managers and shareholders is confirmed and represents the best guarantee for the future of the company, which aims to increasingly establish itself in the world of IT consulting and services.”
PIC Servizi per l’Informatica was assisted by Ethica Group as financial advisor (M&A Advisory division) and by Pavia and Ansaldo law firm. Lynx was assisted by Mediolanum Investment Banking, the law firm DLA Piper and KPMG for Financial Due Diligence. As part of the transaction, Intesa Sanpaolo (IMI Corporate & Investment Banking division) acted as sole lender assisted by the law firm Dentons; Lynx was assisted by the law firm DLA Piper for the legal matters of the financing.
Lynx is a provider of IT and digital services, specialised in the design and implementation of solutions to support large companies operating in the Utilities, Banking, Insurance and Public Administration sectors. Operating in Italy, Spain and LatAm, Lynx is in continuous evolution and growth through external acquisitions, which are fundamental to achieving the group’s objectives. In November 2021, FSI (www.fondofsi.it) invested in Lynx via “FSI I”, an Italian Growth Private Equity Fund with capital commitments of ca. €1.4 bln. It is backed by leading Italian institutional investors, the European Investment Fund (EIF) through the European Investment Bank (EIB), sovereign wealth funds of Middle East, Far East and Central Asia, asset managers, European insurance companies, banks and family offices of large industrial groups.
PIC Servizi per l’Informatica is an Italian company that has been operating in the IT consulting and services market since 1990, with expertise in the industrial and financial sectors.
Thanks to the experience gained in the field of IT systems, PIC Servizi per l’Informatica is able to take full responsibility for the management of software projects, offering itself as a qualified partner through consulting, engineering and system integration.
It operates through three offices (Milan, Turin, Rome and Arezzo), with an organization of more than 200 people. It operates also in the United Kingdom with its own office in London.
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